Guest Brandon Ganch, also known as MadFientist, shares his journey to financial independence and the unexpected realities after achieving FI. He discusses adapting to early retirement, the impact of automation on careers, and valuable insights for staying future-proof. The podcast explores the balance between precision and accuracy in financial planning, shifting motivations post-FI, living authentically, and embracing growth and parenthood.
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Quick takeaways
Post-FI, internal motivations drive actions like achieving childhood dreams and spending time with family.
Creating and releasing a music album post-FI was a fulfilling surprise driven by intrinsic passion.
Striking a balance between planning for the future and living in the present is crucial for financial independence.
Deep dives
Motivation Shift: From External to Internal
Before reaching financial independence, external motivators like money drove actions. However, post-FI, internal motivations have taken over. Achieving childhood dreams, such as writing and releasing a music album, internal pride in accomplishments, spending time with family, staying fit, and pursuing hobbies for personal enjoyment are now the primary drivers.
Pursuing Childhood Dreams: Writing Music Album
One of the biggest surprises post-financial independence was realizing that childhood aspirations, like creating music, were achievable. Overcoming self-doubts and excuses, harnessing the pandemic-induced downtime to focus on music creation, culminated in writing and releasing an album. Interaction with the audience, live performances, and personal music projects now serve as fulfilling motivations.
Unexpected Recognition: Top Album Sales Chart
Unexpectedly, the music album reached remarkable success, climbing to number 39 on the top current album sales chart and number 85 on the top album sales chart. Witnessing the album cover alongside iconic records like Nirvana's 'Nevermind' on the same chart evoked overwhelming emotions and a sense of achievement driven by intrinsic passion rather than external validation.
The Importance of Enjoying Life During the Journey to Financial Independence
It's crucial to strike a balance between planning for the future and living in the present. While financial independence is a significant goal, one should not defer life experiences until after reaching a specific financial target. Life should be enjoyed at every stage, not solely after achieving a financial milestone.
Finding the Sweet Spot in Financial Independence
Reaching a point of financial stability where there is a comfortable gap between income and expenses sets an individual in a favorable position. This 'sweet spot' provides the freedom to pursue various activities and experiences. Having the ability to do anything but not so much that one can do nothing reflects a balanced approach to financial independence.
#506: "Today's guest, Brandon Ganch, also known as the MadFientist, reached Financial Independence (FI) and quit his job as a software developer at 34. But then he faced a vexing question: what should he do with the rest of his life?
In this episode, Brandon shares his journey with FI, revealing the gap between the ideal life you envision on spreadsheets and the reality that unfolds. He talks about reaching FI sooner than planned, having more money than anticipated, and the adjustments he had to make to his lifestyle. It's a refreshingly honest look at FI that goes beyond the numbers.
We also dive into the changing landscape of work and the impact of automation, artificial intelligence and machine learning. Brandon talks about what he would do differently if he were in his 20's, and shares valuable insights on tools you can use to stay relevant and future-proof your career.
You'll enjoy this if:
-- You're on the FI path and want to ensure your plans are flexible enough for life's surprises
-- You're curious about the unexpected realities of achieving FI
-- You're concerned about automation impacting your job security